One Liberty Properties (OLP) Enters $50M Equity Distribution Agreement

On September 21, 2023 (the “Commencement Date”), One Liberty Properties (NYSE: OLP) entered into an Equity Distribution Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Sales Agent”), to sell shares of our common stock, par value $0.01 per share (the “Shares”) having an aggregate sales price of up to $50 million, from time to time, through or to the Sales Agent, acting as agent or principal. The sales, if any, of the Shares made under the Sales Agreement will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended.

The Sales Agreement provides that the Sales Agent will receive from us a commission for its services in acting as agent or principal of up to 2.0% of the gross sales price per share of all Shares sold through it as Sales Agent under the Sales Agreement. The Sales Agent is also entitled to reimbursement of its reasonable expenses in an aggregate amount not to exceed $35,000. We are not obligated to sell any of the Shares under the Sales Agreement and may at any time suspend solicitation and offers thereunder. The offering of Shares pursuant to the Sales Agreement will terminate on the earlier of (1) the sale, pursuant to the Sales Agreement, of Shares having an aggregate offering price of $50 million and (2) the termination of the Sales Agreement by either us or the Sales Agents as permitted therein.

The Shares will be issued pursuant to our shelf registration statement on Form S-3 (File No. 333-273713). Concurrently herewith, we are filing a prospectus supplement (the “Prospectus Supplement”), dated the Commencement Date, with the Securities and Exchange Commission in connection with the offer and sale of the Shares.

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